Quarterly report [Sections 13 or 15(d)]

Credit Losses on Financial Assets and Other Instruments (Tables)

v3.26.1
Credit Losses on Financial Assets and Other Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Credit Loss [Abstract]  
Schedule of Credit Losses, Financial Assets and Other Instruments, Allowance for Credit Loss
The table below presents the activity for our allowance for credit losses for the three months ended March 31, 2026 and 2025 (in thousands):
Investing Receivables Tenant Notes
Receivable (1)		 Other Assets (2) Total
December 31, 2025 $ 3,575  $ 532  $ 109  $ 4,216 
Net credit loss recoveries (3) (322) (10) (37) (369)
March 31, 2026 $ 3,253  $ 522  $ 72  $ 3,847 
December 31, 2024 $ 2,792  $ 615  $ 75  $ 3,482 
Net credit loss expense (recoveries) (3) 570  (10) (45) 515 
March 31, 2025 $ 3,362  $ 605  $ 30  $ 3,997 
(1)Included in the line entitled “accounts receivable, net” on our consolidated balance sheets.
(2)The balances as of March 31, 2026 and December 31, 2025 included insignificant amounts in the lines entitled “accounts receivable, net” and “prepaid expenses and other assets, net” on our consolidated balance sheets.
(3)Included in the line entitled “interest and other income, net” on our consolidated statements of operations.
Schedule of Credit Risk Classification
The table below presents the amortized cost basis of our investing receivables, tenant notes receivable, and sales-type lease receivables by credit risk classification, by origination year as of March 31, 2026 (in thousands):
Origination Year
2021 and Earlier
 2022 2023 2024 2025 2026 Total
Investing receivables
Credit risk classification
Investment grade $ 62,638  $ —  $ 1,870  $ —  $ —  $ —  $ 64,508 
Non-investment grade —  —  —  —  8,667  —  8,667 
Total $ 62,638  $ —  $ 1,870  $ —  $ 8,667  $ —  $ 73,175 
Tenant notes receivable
Credit risk classification
Investment grade $ 380  $ —  $ —  $ —  $ —  $ —  $ 380 
Non-investment grade 1,158  —  —  310  19  —  1,487 
Total $ 1,538  $ —  $ —  $ 310  $ 19  $ —  $ 1,867 
Sales-type lease receivables
Credit risk classification
Investment grade $ 3,658  $ —  $ —  $ —  $ —  $ 1,520  $ 5,178